Global IT spend on derivatives to hit $5.75bn by 2009, says TowerGroup

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Boston-based financial services research and consultancy organisation TowerGroup estimates that global IT spending on derivatives will rise by 18% a year over the next three years. This will be aided by growth in the global structured products market, particularly in the US, which is still catching up with Europe.

In fact, growth will be faster than the 4-6% predicted for equities and fixed income, TowerGroup says, since dealers are deciding to invest in risk management, processing and pricin

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